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For few people, being enrolled in Original Medicare is all the protection they need. However, most people might want to enroll in a Medicare Advantage (MA) plan or a Medicare Supplement Plan. As of March 2012, 13 million Medicare beneficiaries had signed up for an Medicare Advantage plan. But is it the best choice for you?
A Medicare Advantage Plan (sometimes referred to as Part C) is actually an insurance plan that is offered through a private company who has an annual contract with Medicare. You are provided with all the Part A and B benefits, on top of some additional services which are not paid for under Original Medicare like limited vision, hearing, and dental services. Prescription drug coverage is also offered through most Medicare Advantage plans. Most Medicare Advantage plans include Medicare Prescription Drug (Part D) coverage but not all plans do.
Although they cover all Medicare services, Medicare Advantage plans can charge different
out-of-pocket expenses and can have different rules for how you get services. These costs depend on the plan. Certain plans may not charge a monthly premium, some have additional deductibles. Each insurance company's Medicare Advantage plan is different, one insurance company may offer different types of Medicare Advantage plan, and understanding the guidelines of an MA plan before you join is crucial.
We're here to help. Call us any time with questions. We would love to hear from you.